Quarterly report pursuant to Section 13 or 15(d)

Stock Options and Restricted Stock Units (Tables)

v3.8.0.1
Stock Options and Restricted Stock Units (Tables)
 3 Months Ended
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Common Stock Options Issued Under Option Plans

A summary of the common stock options issued under the Option Plans and the 2016 Plan for the period from December 31, 2017 through March 31, 2018 follows:

 

    Number Outstanding     Weighted Avg. Exercise Price     Weighted Avg. Remaining Contractual Life (Years)  
Balance, December 31, 2017     6,915,480     $ 0.21       5.6  
Options issued     —       —       —  
Options exercised     —       —       —  
Options cancelled     —       —       —  
Balance, March 31, 2018     6,915,480     $ 0.21       5.3  

Schedule of Vested and Exercisable Options at Period End

The vested and exercisable options at period end follows:

 

    Exercisable/
Vested
Options Outstanding 		    Weighted Avg.
Exercise Price 		    Weighted
Avg.
Remaining Contractual
Life (Years) 		 
Balance, March 31, 2018     6,828,813     $ 0.21       5.6  
                         

Schedule of Fair Value of New Stock Options Granted Using Following Assumptions

The fair value of new stock options and warrants granted using the Black-Scholes option pricing model was calculated using the following assumptions:

 

    Three Months
March 31, 2018 		 
Risk free interest rate     2.33 %
Expected volatility     128 %
Expected dividend yield     0 %
Expected term in years     3.0  
Average value per options   $ 0.066